pay off my student loans

I graduated with about $10,000 in subsidized loans (not bad at all!) Since one had a 6% interest rate, my mom helped me pay that one off before it began to accrue interest, and I’ve been paying off two others at 4% (variable) interest for the past year at about $100/month . . . very reasonable! Now I have another $2,000 loan coming due next month at 5% interest, so I’m using the money I’ve saved to pay it off. $1K this month… then $1K next month (when I get paid again!)

Thank goodness I decided to attend a graduate school offering me a free ride! Now I can put the last $5,000 in forbearance until I graduate . . . Just think, I’ll have a master’s degree with only $5,000 to pay off. Not too shabby!

I was fortunate in that I didn’t necessarily need to take out loans for school, but since I was offered subsidized loans my mother and I agreed I should accept them to help improve my credit. Now, with a little help from my Mom, I’m slowly paying them off before they accrue much interest and building my credit at the same time. :) I think it was still a good idea, and my payments are less than $100 a month so it’s very manageable.